So we have said goodbye to the first quarter of 2019. It’s been a mad rush…
Firstly, Happy Easter to you and your families, I hope that you all get a great SAFE break, and that this amazing autumn Weather holds out for the long weekend arriving and short week next week for Anzac day. Massive gratitude for all those who have served or are currently serving….Lest we Forget….We will remember them...
On the subject of serving I guess that bring us to the next piece of craziness with the impending election in less than 5 weeks. I guess we will see if this next Prime Minister can stay for a whole term, let alone if one Party can hold a majority. It will certainly be interesting to see what plays out, with all the after effects of the Royal Commission hanging around. Then the parties taking very different sides on what will happen to mortgage broking. Let alone the recent events in parliament around accountants, and labours position on what can be claimed, by having someone not only help navigate the mire of legislation but help reduce one of the biggest bills annually, your tax!
The world of banking and lending has not changed very much in the last 3 months. It can be quite difficult to borrow huge sums of money. This has caused some concern in the real estate sector with many real estate agents I know telling me that their prospective buyers are finding it hard to borrow. The only way to ensure you are OK and you don’t get into trouble is the same old advice. Keep your credit cards free from interest, use the interest free period to your advantage! Reduce your limits if you are not using them. I do have some lenders who will look at a credit card that is paid off every month as a zero debt.
The other thing is make sure you or your family and friends speak to me or a mortgage broker before going house shopping. I can sit down and look at over 50 lenders and let you know what the limits are so you can go into any negotiation with confidence.
I too have been very busy with expanding my offering for clients. I have recently been accredited with Westpac’s asset finance arm. They have some great products for business owners, some great rates and a quick and easy system to get an asset loan. Right up to $150k without the needs for financials if you are ABN/GST registered and a home owner/mortgagor for more than 2 years. I also have a few other options with Macquarie Leasing, ANZ Pepper Money and Loans Today. I’m finding lots of lids for teapots!
Likewise Westpac have a product called Insurance premium funding. This one is right out of the box! If you have more than $5k PA in insurance premiums then have a chat to me. We can get Westpac to fund the premium over a 12 months period and you then only need to make a monthly payment and the bank secures the loan against the insurance certificate. The rate is very reasonable and can certainly assist with cash flow.
The next quarter will certainly be interesting once we have a new government, and a new Prime Minister and Cabinet. Economists are seemingly split on what the RBA will do to the cash rate. Banks have been continuing to move around on their rates both with investment lending and residential lending. With the trend in residential rates going up and some investment rates coming down.
If your home or investment loans haven’t had a health check for a while then its worthwhile us sitting down. Helping to keep your rates sharp is why I am here! I am only a call or an email away.
Have a great break everyone.
Justin
Comments